BI Asset Management Fondsmaeglerselskab A S Raises Stake in Bentley Systems, Incorporated (NASDAQ:BSY)

BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 54.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 8,311 shares of the company’s stock after purchasing an additional 2,942 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Bentley Systems were worth $434,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of BSY. Private Trust Co. NA increased its position in Bentley Systems by 87.3% during the fourth quarter. Private Trust Co. NA now owns 545 shares of the company’s stock valued at $28,000 after acquiring an additional 254 shares during the last quarter. Fifth Third Bancorp increased its position in Bentley Systems by 97.4% during the fourth quarter. Fifth Third Bancorp now owns 752 shares of the company’s stock valued at $39,000 after acquiring an additional 371 shares during the last quarter. Van ECK Associates Corp bought a new position in Bentley Systems during the fourth quarter valued at $72,000. Global Retirement Partners LLC increased its position in Bentley Systems by 439.4% during the fourth quarter. Global Retirement Partners LLC now owns 1,505 shares of the company’s stock valued at $73,000 after acquiring an additional 1,226 shares during the last quarter. Finally, Principal Securities Inc. bought a new position in Bentley Systems during the fourth quarter valued at $73,000. Institutional investors own 44.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on BSY shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Bentley Systems in a research note on Tuesday, April 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $63.00 price objective (up from $60.00) on shares of Bentley Systems in a research note on Wednesday, May 8th. Mizuho upped their price objective on shares of Bentley Systems from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Royal Bank of Canada reiterated an “outperform” rating and issued a $61.00 target price on shares of Bentley Systems in a report on Wednesday, February 28th. Finally, Robert W. Baird raised their price target on shares of Bentley Systems from $58.00 to $59.00 and gave the company an “outperform” rating in a report on Tuesday, February 6th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Bentley Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.29.

Bentley Systems Stock Performance

Shares of BSY opened at $53.29 on Friday. The stock has a 50 day moving average price of $52.36 and a 200 day moving average price of $51.43. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.53. The company has a market capitalization of $15.37 billion, a price-to-earnings ratio of 49.80, a price-to-earnings-growth ratio of 4.66 and a beta of 1.08. Bentley Systems, Incorporated has a 52-week low of $44.76 and a 52-week high of $57.19.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.18 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.18. Bentley Systems had a return on equity of 32.62% and a net margin of 28.09%. The company had revenue of $310.64 million during the quarter, compared to analysts’ expectations of $313.67 million. During the same quarter in the previous year, the business earned $0.13 earnings per share. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. Research analysts predict that Bentley Systems, Incorporated will post 0.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other Bentley Systems news, Director Keith A. Bentley sold 17,021 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $55.00, for a total value of $936,155.00. Following the sale, the director now owns 17,150,752 shares of the company’s stock, valued at $943,291,360. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Bentley Systems news, Director Keith A. Bentley sold 17,021 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $55.00, for a total value of $936,155.00. Following the sale, the director now directly owns 17,150,752 shares of the company’s stock, valued at approximately $943,291,360. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Keith A. Bentley sold 88,925 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $49.48, for a total value of $4,400,009.00. Following the completion of the sale, the director now directly owns 17,164,179 shares in the company, valued at $849,283,576.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 284,315 shares of company stock worth $15,148,243. 21.12% of the stock is owned by corporate insiders.

About Bentley Systems

Bentley Systems, Incorporated, together with its subsidiaries, provides infrastructure engineering software solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company offers open modeling engineering applications, such as MicroStation, OpenBridge, OpenBuildings, OpenCities, OpenComms, OpenFlows, OpenPlant, OpenRail, OpenRoads, OpenSite, OpenTower, OpenTunnel, OpenUtilities, and OpenWindowPower; and open simulation engineering applications, including ADINA, AutoPIPE, CUBE, DYNAMEQ, EMME, LEGION, Power Line Systems, RAM, SACS, SPIDA, and STAAD; and geoprofessional applications for modeling and simulation of near and deep subsurface conditions, including AGS, Central, GeoStudio, Imago, Leapfrog, MX Deposit, Oasis montaj, OpenGround, and PLAXIS.